eBay said that it has made a $500 million cash investment in Flipkart that will own and operate eBay.in effective immediately. In return, eBay will receive an undisclosed equity stake in the Bengaluru-based e-commerce marketplace.

eBay along with Microsoft and Tencent had pumped in a massive $1.4 billion into Flipkart in one of the biggest funding round in the Indian e-commerce segment in April this year.

As part of this transaction, Flipkart had acquired eBay’s Indian operations which is expected to continue operating as an independent entity within the company that also houses online fashion stores Myntra & Jabong and payments platform PhonePe.

eBay said that both the companies are also jointly pursuing cross-border trade opportunities to make eBay’s global inventory accessible to consumers in India, while eBay’s customers across the world will have access to inventory from Flipkart sellers.